Boeing’s CEO says the company will begin furloughing a large number of employees to save cash during a strike by union machinists.

The demands of Boeing workers—at least a 40 percent raise to combat inflation, maintaining their yearly bonus, improved healthcare and the restoration of pensions—echo among all workers who have faced decades of slashed wages and declining living standards.

The furloughs are part of sweeping cost-cutting measures Boeing announced this week as it continues negotiations with striking machinists.

The International Association of Machinists on Friday overwhelmingly voted to reject the offer that had been accepted by their leadership and Boeing.

The strike was called after the extension expired on September 5 and after workers voted down two tentative agreements brought by the United Auto Workers.

Boeing top executive said Sept. 18 that the company will begin furloughing "a large number" of workers to conserve cash during the strike by union machinists that began last week. CEO Kelly Ortberg said the employees who would be required to take time off without pay starting in the coming days include executives,

Boeing is suspending the jobs of tens of thousands of staff in the US in response to a strike that has shut down production of some of its airplanes. The aerospace giant said US-based executives, managers and staff would be asked to take one week of furlough every four weeks as long as the stand-off lasts.

Boeing said on Wednesday it will temporarily furlough tens of thousands of employees after about 30,000 machinists went on strike on Friday, halting production of its 737 MAX and other airplanes. "We are initiating temporary furloughs over the coming days that will impact a large number of US-based executives,

Boeing will temporarily furlough thousands of U.S. executives, managers and other staff, citing the ongoing machinist strike as the company races to preserve cash, CEO Kelly Ortberg told employees on Wednesday.